Ansal Projects seeks denotification of its SEZ in Gurgaon
Posted by propertyagentsindia on May 15th, 2012
NEW DELHI: Ansal SEZ Projects has approached the government seeking to surrender its special economic zone in Gurgaon after the imposition of minimum alternate tax and global economic uncertainties. The request for denotification of the SEZ will be placed before the Board of Approval (BoA), which is scheduled to meet on May 22. The BoA, headed by Commerce Secretary Rahul Khullar, will also consider the requests of developers like Uttam Galva Steels, Mumbai SEZ Ltd and Mahindra and Mahindra which have sought more time to execute their projects. “The developer (Ansal) has requested for denotification of the (IT/ITeS) SEZ due to economic meltdown, lack of demand and imposition of minimum [...]
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